MOSCOW, November 28 (RAPSI) – The Tatarstan Commercial Court has extended the procedure of sale of property of ex-Tatfondbank chairman Robert Musin for six months, according to court records.
On July 18, 2018, the court granted a motion of Tatfondbank and declared Musin bankrupt.
Earlier, the court initiated a procedure of restructuring Musin’s debt. The DIA sought 16.7 million rubles ($255) from the banker.
Notably, Musin is charged with embezzlement. According to investigators, in August 2016, employees of the bank provided false data to the Central Bank of Russia to obtain a credit and subsequently embezzle the funds. Later, the money was transferred to the accounts of affiliated companies.
Investigators believe that overall damage in criminal cases against Musin reaches 50 billion rubles (about $765.6 million). Thirteen cases over abuse of office opened against Musin are allegedly connected with embezzlement of 18 billion rubles ($275.6 million) belonging to Tatfondbank.
In July, the Investigative Committee reported that Musin would stand trial on charges of abuse of office
According to investigators, in December 2016, Musin siphoned liquid collateral security amounting to more than 20 billion rubles ($315 million) prior to the appointment of temporary administration in the troubled bank. Thus, he caused damage in the form of credit outstandings worth over 7 billion rubles to Tatfondbank, the statement reads. Over 19 billion rubles have not been returned, investigators claim.
There are 517 volumes in the case against Musin. Moreover, investigators believe that the defendant was involved in other crimes. The total damage caused by Musin’s actions is estimated at more than 53 billion rubles (nearly $835 million), according to the Investigative Committee.
A court has seized his assets worth more than 4.2 billion rubles.